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Unicap records higher profits in Q3 on reversing provisions

Unicap records higher profits in Q3 on reversing provisions
Unicap reported an increase of 169% in 9M profits
UNICAP
UNICAP`R
-2.68% 290.00 -8.00

Mubasher: Unicap Investment and Finance achieved a surge of 69.8% in profits during the third quarter of 2018 compared to the same period a year ago.

Earnings grew to KWD 421,000 ($1.39 million) in Q3-18 from KWD 248,000 ($816,790) in Q3-17, according to a bourse statement on Tuesday.

During the nine-month period, Unicap reported an increase of 169% to KWD 3.47 million from KWD 1.29 million in the same period a year ago.